Trader 0xa523 Shorts $77 Million in Bitcoin After $435K ASTER Profit
An on-chain analyst reports that a whale trader who faced significant losses on ETH and BTC has shorted 1.8 million ASTER tokens after its price surpassed $2, with a liquidation price set at $2.68.
BTC
ETH
Summary
An on-chain analyst reveals that a whale trader, who previously lost $35.84 million on Ethereum and $7.5 million shorting Bitcoin, has shorted 1.825 million ASTER tokens at $1.92, worth $3.55 million. The position carries a liquidation price of $2.68, marking the trader's latest move in a high-risk strategy.
Terms & Concepts
- Short Position: A trading strategy where an investor sells an asset they do not own, aiming to repurchase it later at a lower price for profit.
- Liquidation Price: The price level at which an exchange will automatically close a leveraged position to prevent further losses.
- ASTER: A cryptocurrency token, in this case, being traded by the whale for short positions.